Live tweeting @mikeeisenberg’s speech to the impact entrepreneurship summit at 125th anniversary of the first Zionist Congress in Basel. On covenantal capitalism, Herzl’s vision, and the role of Israel in this 🧵 
1. Herzl and the first Zionist congress rebirthed a covenant. Now we need to do that again. Israel is proof that dreams need not just be dreams.
2. Herzl’s dream is a reality. We have shared values and sacrifices. We are turning from a startup nation to a scale up nation. Now is the time to build Israel’s new economic covenant.
3. This will only work if it’s built on our unique entrepreneurial assets. Herzl dreamed of a venture led by the market and civic leaders, not politicians.
4. Herzl looking at US and French revolutions alongside dryfuss trials, dreamed that Jews could be part of the western story.
5. The west is experiencing willful blindness both in terms of ignoring inequity, but also with calls for socialism. The east is just as bad for other reasons (lack of freedoms, confiscating property), In Israel, “covenantal capitalism” is emerging, similar to Herzl’s mutualism”.
6. Israel’s early economy was mutualist. It was a nice start, but suffice to say that our economy was not enviable. But Hherzl undervalued the generative power of capitalism - the greatest engine of creation in the history of humanity.
7. Economic power is a blessing, it says so in the Bible. Capitalism needs values. Together, capitalism and values create this new value.
8. The economic covenant we are building can not be built on redistribution. Israel’s covenantal capitalism is led by bold entrepreneurs and investors, using their wallets alongside their values.
9. Time and again we have learned that governments can’t lead these revolutions efficiently. It has to be market driven. This will grow the pie.
10. Michael about @yuvalsamet who chose to return to Israel to build a private, market driven venture that has an eye on impact and values and growing the our mutual pie (@RiseUp_Israel)
11. R. Dov Soloveitchik talked of this covenantal economy as well. Israel needs this after decades of money printing and governmental failures that have left many behind.
12. Capitalism is not broken - we are. And we can fix it by infusing values and becoming the authors of covenantal capitalism. We don’t want to be china, not so we want to be America with holidays like Black Friday.
13. The future of capitalism is Israeli driven covenantal capitalism. And we can do it.
// that’s it, apologies if I missed anything. Huge thanks to @mikeeisenberg of @aleph for this inspirational speech // 🇮🇱
And of course - thanks to the @wzo_official for hosting this incredible event. #WZO125 #Zionism #Israel #Economy #ValuesCreateValue #ImpactInvesting
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